SL should have an export driven economy to overcome economic crisis: PM

27 September 2018 04:18 am - 37     - {{hitsCtrl.values.hits}}

A A A

Sri Lanka would not have been affected by the current global economic crisis if the country did not get into a debt trap like the one it has got into, Prime Minister Ranil Wickremesinghe said yesterday.

Mr Wickremesinghe expressed this sentiment at the prize giving of Maliyadeva Balika Maha Vidyalaya in Kurunegala in the morning.

“Sri Lanka is largely affected by the devaluation rupee because of the debt trap it has got into. We would not have been affected by the devaluation issue if we did not get into a debt trap. We have to pay $ 3,000 million this year to settle debts while a sum of $ 4000 million has to be paid next year. Therefore one could see that what we inherited are past sins. What we have to do now is to overcome this situation,” the Prime Minister said.

“ Anyhow the current global crisis affects both the household economy and the national economy. We are fully aware of it. Some countries such as Thailand and Vietnam are not severely affected by the global economic crisis as they fully depend on exports,” the Prime Minister added while stressing that Sri Lanka too should go for an export-driven economy in order to get out of the present crisis.

The Prime Minister said Sri Lanka has failed to focus on building up an export-driven economy for the last ten years. “ It will take at least three years to build such an economy. Attracting investors and establishing export zones is a time-consuming job. However, we have already embarked on such a program. Kurunegala, Kandy and South have been identified as locations where export zones would be opened. The Central highway which is being constructed now will be helpful to the export zone which will come in the North-Western Region. An 800-acre export zone will be built in Bingiriya. Such zones will come in Kurunegala as well. There will be a 10,000-acre zone in Hambantota. There will also be one in Kalutara,” he also said.

Further, the Prime Minister said Sri Lanka will need skilled and knowledgeable people when various kinds of industries come up in Sri Lanka and added that such persons will be produced through a modernized education system. (Yohan Perera)

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 37

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 
  • ET Thursday, 27 September 2018 08:21 AM

    Now only you understand that? After ruining rubber, tea, palm pkantations by banning glyposate on heresay and notvgiving any help still to rubber sand tea mall holders who cannot make a profit.

    Pradeepan Thursday, 27 September 2018 08:23 AM

    Do you think that this can be done in a few years? Easier said than done. We need infrastructure and enabling environment such as Paypal inward and a good road network and better labour laws. Not under your myopic government

    Econ Thursday, 27 September 2018 08:23 AM

    Your Short sited view is already affecting the economy.

    Saman Thursday, 27 September 2018 08:30 AM

    At least now he understands. But exports must be goods, not harbour, Airport, Airlines etc. Those are the ones we get dollars if we manage properly without corruptions.

    Gune Thursday, 27 September 2018 08:30 AM

    We don't need such obvious explanations. We want action and results .

    Rohantha Thursday, 27 September 2018 08:33 AM

    NATO

    Ravi Thursday, 27 September 2018 08:47 AM

    I am a exporter but planning to stop them completely and close the factory as not making enough profit for the amount of stress and hours I do. I am only doing it for the employees at the moment.. this yahapalana is doing nothing for anyone including exporters. Tax that, tax this steal epf funds. What have done for the local exporters who are the backbone of the economy? Tax them harder

    Agent Thursday, 27 September 2018 08:53 AM

    Dear SirSurprisingYou knew this export topic today.Good Luck

    Sathees Thursday, 27 September 2018 09:01 AM

    @PMLayman's question: If economic crisis hits every country on Earth, so to speak, which country will be in capacity to import so that we can export?I believe in internally sustained economy. It's time that we make what we want and stop completely wasting on importing!

    BuffaloaCitizen Thursday, 27 September 2018 09:03 AM

    Finland and Denmark are almost 0% corruption, thuggery and criminal free. Just check and negotiate with them whether we can export some Sri Lankans to at least to keep their statistics above 0%.

    Sov Thursday, 27 September 2018 09:03 AM

    Words reflect the inability. MR never thought war as a past sin. He never sought reasons to skip it.Insteaded he did what is necessary n people want. That's the difference between two leaders. ( Though MR is accused for the corruptions, he did what was necessary at the time.)

    Sathees Thursday, 27 September 2018 09:05 AM

    @PMLayman's question: If economic crisis hits every country on Earth, so to speak, which country will be in capacity to import so that we can export?I believe in internally sustained economy. It's time that we make what we want and stop completely wasting on importing!

    Ajja93 Thursday, 27 September 2018 09:10 AM

    Please impose 30% tax on all products that are manufacture in Sri Lanka. Once local manufacturers have good local market and footing, they will look for exports.

    Stupid Thursday, 27 September 2018 09:27 AM

    Stupid

    Jaliya Thursday, 27 September 2018 09:39 AM

    Yeah great idea for making junk products in sri lanka. Do you honestly buy anything that is made here ?

    Shehan Thursday, 27 September 2018 09:14 AM

    Please remove all stupid red tapes in country. Make it as simple as Singapore to get job done. Implement

    Mk Thursday, 27 September 2018 09:22 AM

    We are sick of your statements. Start doing. MR despite all his weaknesses said he will finish the war. Said he will increase the Income per capita and he did it. Do what you have promised... or else leave

    Unchikun Thursday, 27 September 2018 09:35 AM

    All the rich nations in the world have export oriented economics. Sri Lanka was left behind. Sri Lanka can not compete in the labour intensive industries due to high labour cost and unstable energy. Still not too late if you put effort to the software industry, What have you done for the last 3 1/2 years. Yes, getting done tax free luxury cars and globe trotting with no results.

    Wise Donkey Thursday, 27 September 2018 09:36 AM

    What do we have to export now except one commodity which is available at bargain price of buy one and take two free, don't ask me what it is? Everyone knows why the whole world knows! CORRUPTION !

    DogLover Thursday, 27 September 2018 09:39 AM

    As a money spinner try SL Cashew nuts export to European countries' would bring the needed FC to steady the Rupee depreciation. Most Europeans love their Dogs more than their Children.

    Priya Thursday, 27 September 2018 12:30 PM

    So do it.... You are the PM, aren't you? Now only did you wake up?

    Gxft Thursday, 27 September 2018 12:30 PM

    You should resign with immediate effect, and call for fresh elections. You have demonstrated you're incapable.

    Sanje Thursday, 27 September 2018 12:41 PM

    PM. See the response from the people.You need help . You are blowing it all over your face Sir.

    DG Thursday, 27 September 2018 12:41 PM

    You have realised this now after three years but by now exporters are closing business due your shortsighted action and policies. Stop unwanted imports and encourage local production.

    Nuwan Thursday, 27 September 2018 01:16 PM

    But what can we export? Can you name one? Why has infrastructure development halted? Why are you not looking at IT industry and give it a boost by improving power and broadband infrastructure? Tax breaks? Investment loans?

    Sanath Thursday, 27 September 2018 01:25 PM

    Have they suddenly realized that only just now? What were they doing all these years? What a revelation!! All these useless characters should be chased out.

    Dhammika Thursday, 27 September 2018 03:10 PM

    So RW is NOW , PREACHING and ADVICING . Good RW needs a a job when the 2020 election results are OUT .

    GH Thursday, 27 September 2018 03:31 PM

    Yes you are quite right, we can export the semi-nude photos taken at Pidurangala, Sigiriya, that will vastly reduce the Balance of Payment crisis we have been facing right now.

    Vasa Thursday, 27 September 2018 03:59 PM

    The heart of the wicked is little worth.the lips of the righteous feed any,but the fools die for the want of wisdom.

    fancy Thursday, 27 September 2018 04:04 PM

    Oh! a novel idea!!!!!!!!!!

    NAF Thursday, 27 September 2018 04:04 PM

    Export what ?

    Sri lankan Thursday, 27 September 2018 06:57 PM

    EXPORT THE P.M

    Spitfire Thursday, 27 September 2018 04:15 PM

    yea if we can export all the corrupt politicos of the parliament the economy would thrive for sure

    Haramanis Thursday, 27 September 2018 09:37 PM

    You should export the buffaloes you imported!!

    GH Friday, 28 September 2018 11:28 AM

    Yea! first one should be the PM himself.

    chathse Friday, 28 September 2018 10:42 AM

    Why these politicians telling it to masses. It's politicos who should create industry friendly stable govt to boost exports.

    Rasheed Friday, 28 September 2018 11:17 AM

    Another promise to be implemented after 2020 election.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Gotabaya Govt’s pre-emptive strike against LTTE Maaveerar Naal

November 27th 1989 was the day on which the Liberation Tigers of Tamil Eelam

Adivasi community struggle to preserve 37,000 -year-old heritage

Sri Lanka’s indigenous Adivasi community—the Vedda people—have historic

Pad politics is back

In November 2019, in the run up to the Presidential election, Sri Lanka debat

ANYTHING FOR MONEY

Some unregulated online lenders are remotely taking control of phones of thos

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.